Asked whether there is still value for money in the January window, Arteta said: “Valuations have to be made between the selling club and the buying club.
“It is difficult but it shows there are a lot of clubs with a lot of financial power to spend big amounts, and we have to compete with them.
“To be smart, we have to see good opportunities and we have to be attractive for players. At the end of the day, players decide where they want to play, and if they want to play for our club, that is great.”
Arsenal are hoping to make some additions in this window to maintain their strong start in the Premier League.